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Press Release
- Company will focus on expanding product lineup and boosting R&D capabilities in China.
On January 29, Doosan Bobcat announced that Doosan Bobcat China Co., Ltd., based in Suzhou, China, had held a virtual conference on January 28 attended by more than 400 dealers of its compact construction equipment from all over China. The company held the conference to share its business results in 2020, its mid- to long-term business strategies, and major issues with dealers operating across the country, in a drive to maximize its sales potential in the market.
Doosan Bobcat proposed a series of strategies tailored for the Chinese market, such as securing competitiveness by expanding its product line-up, reinforcing its R&D capabilities and sharing specific action plans with the dealers.
China's compact construction equipment market is the second largest market in the world after that of the United States, with compact excavators accounting for an overwhelming proportion of sales. Doosan Bobcat has been concentrating on China’s 3-ton-and-smaller mini excavator market, with sales rising to 8,778 units in 2020. The market has seen an average annual growth rate of 64% since 2016, amid rapid urbanization and rising labor costs.
In 2020, Doosan Bobcat started producing two types of mini excavators, the E17Z and the E20Z, at its Suzhou plant in China, in a bid to step up its marketing efforts for the 3-ton-and-smaller mini excavator market in particular. Doosan Bobcat plans to seize a double-digit share of China’s market within two years on the back of its unmatched product competitiveness and differentiated customer service.
Last year, Doosan Bobcat launched the S70, an ultra-compact loader, in China following its launch of Earthforce, a compact loader customized for China, in 2017, as part of its efforts to expand its sales of compact loaders in the market.
An executive from Doosan Bobcat declared, “This event enabled us to share with our major dealers in China our strategies for expanding our market presence in the country from the mid- to long-term perspective. We will further increase our market share in China by making concerted efforts to strengthen our dealers’ capabilities while continually introducing new products tailored for the market.”
▲Doosan Bobcat had kicked off the production of compact excavators (1-2 ton) in China since last year
